5659 Del Prado Dr - Apartments FOR SALE


Tampa, FL 33617- Temple Terrace | 
$46,900,000 USD
813-221-7225
5659 Del Prado Dr, Tampa, FL for Sale
$46,900,000 USD
Apartments - FOR SALE
1/44
null | 6.75% Cap Rate

5659 Del Prado Dr
Tampa, FL 33617
Temple Terrace


HIGHLIGHTS

  • Established 296-unit multifamily community in Tampa's Temple Terrace submarket.
  • Convenient access to the University of South Florida and surrounding employment centers.
  • Concrete construction supports long-term durability and operational efficiency.
  • Recent clubhouse and leasing office renovations enhance resident appeal.
  • Community amenities include a swimming pool and resident clubhouse.
  • Positioned near major transportation corridors, retail destinations, and daily services.

OVERVIEW

River View is a 296-unit concrete community built in 1973 in Tampa‘s Temple Terrace submarket. Its floor plans are all one, two, and three-bedrooms, averaging a large 1,127 sq. ft., which draws families and roommate households that renew longer and keep occupancy stable. Durable concrete construction holds down maintenance and insurance costs, and recent clubhouse and leasing office renovations leave less near-term capital for a new owner. On-site amenities include a swimming pool and clubhouse, and washer/dryer connections in 24 units give a buyer a ready lever to install in-unit appliances and raise rents. With only 5 units fully renovated to date and completed units already earning premiums of roughly $150 per month, the interior program offers immediate, repeatable rent growth. In-place income and expenses are sound, with strong collections and stable trailing operations that hand a buyer dependable cash flow from day one. River View sits among North Tampa‘s largest employment and demand drivers, including Moffitt Cancer Center, AdventHealth and James A. Haley Veterans‘ Hospital (more than 14,900 employees combined); Yuengling Brewing Company and PepsiCo (more than 2,000 employees); the University of South Florida (more than 16,000 employees); and the Amazon Fulfillment Center.

FOR SALE DETAILS

PRICE

$46,900,000 USD

PRICE/SF

$140 USD /SF

# OF UNITS

296

PRICE/UNIT

$158,446

CAP RATE

6.75%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

River View Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1972

PARKING SPACES

450

LAND DETAILS

LAND ACRES

18.43 AC

LAND SF

802,907 SF

ZONING

RMC-20

APN/PARCEL ID

U-27-28-19-ZZZ-000001-38930.0

ASK ABOUT THIS PROPERTY

813-221-7225

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813-221-7225

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